Bank Failure
Premier Community Bank of the Emerald Coast
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Closed December 16, 2011 · Crestview, FL · FDIC Cert #58343.
- Closing date
- December 16, 2011
- Headquarters
- Crestview, FL
- FDIC Certificate
- 58343
- Total assets at closing
- $126.0M
- Total deposits at closing
- $112.0M
- Estimated loss to the insurance fund
- $25.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Summit Bank, N.A.
Context
On December 16, 2011, regulators closed Premier Community Bank of the Emerald Coast, headquartered in Crestview, FL. At closing, the institution held approximately $126.0M in assets and $112.0M in deposits. The FDIC record names Summit Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $25.1M.
By assets at closing this is the 1060th largest of the 3,526 bank failures in the FDIC record, and the 68th of 92 in 2011. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Premier Community Bank of the Emerald Coast fail?
Premier Community Bank of the Emerald Coast was closed by regulators on December 16, 2011.
Who acquired Premier Community Bank of the Emerald Coast?
The FDIC record names Summit Bank, N.A. as the acquiring institution in the resolution of Premier Community Bank of the Emerald Coast.
How big was Premier Community Bank of the Emerald Coast when it failed?
Premier Community Bank of the Emerald Coast had approximately $126.0M in total assets and $112.0M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
| Oct 21, 2011 | Community Banks of Colorado | $1.28B |
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